Business news from Ukraine

The International Monetary Fund (IMF) considers it possible to introduce an exit capital tax in Ukraine if mechanisms to cover possible budget losses are available, the member of the Verkhovna Rada Committee on Taxation and Customs Policy, People’s Deputy Tetiana Ostrikova (Samopomich), has said after a meeting with IMF representatives in the United States. “The first news is that the IMF does not oppose this tax and considers such a model of profit taxation possible taking into account certain factors. The second news is that the IMF does not directly support the bill on the exit capital tax, which the Ukrainian government uses, covering its inactivity in the tax sphere,” the press service of the Samopomich party said.
The party notes that the issue of the introduction by the president of Ukraine of a draft law on the exit capital tax, prepared by a working group under the Ministry of Finance, to the parliament, was postponed indefinitely, referring to correspondence with the IMF.
At the same time, the political force explained that the issue of the exit capital tax was not included in the memorandum between the IMF and Ukraine, therefore it is not a top priority for the fund. At the same time, the IMF is concerned about a lack of tangible tax reforms.

The National Bank of Ukraine (NBU) maintains its expectation that Ukraine will attract $2 billion from the International Monetary Fund (IMF) in 2018 and predicts the next tranche will be received at the beginning of the third quarter of 2018. “As for the next tranche of a loan, we believe that this will be possible at the beginning of the third quarter. However, this is rather a technical calculation in terms of the progress of negotiations and receipt of consents at the technical level,” Deputy NBU Governor Dmytro Solohub said at a briefing in Kyiv.
According to him, the NBU currently does not have any specific information about the date of the next visit of the IMF mission to Kyiv. At the same time, Solohub reported that the Ukrainian delegation planned to attend the Annual and Spring Meetings of the IMF and the World Bank.
“The traditional spring meetings of the IMF will be held at the end of next week, and the Ukrainian delegation will be present at them. These are not only negotiations with the [IMF] mission to discuss the [EFF] program, these are also meetings with other international organizations,” he said.

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